RBI Rules: Money is not withdrawn from ATM and money is deducted from the account, know in how many days it will be refunded
RBI Rules: Now we do not need to go to the bank to withdraw cash, because we can use ATM. Sometimes while withdrawing money from ATM, the transaction fails due to network or other problems, and yet the money is deducted from the bank account. There is no need to panic in such a situation-
The Kalamkar News:- Now we do not need to go to the bank to withdraw cash, because we can use the ATM. We are given an ATM card while opening a bank account.
Sometimes while withdrawing money from the ATM, the transaction fails due to network or other problems, and yet the money is deducted from the bank account.
There is no need to panic in such a situation. You can easily register your complaint online or by calling the bank's customer care number.
RBI has given guidelines to every bank regarding cash getting stuck in ATM. The bank refunds your money in 10-15 days. But you should keep many things in mind to get a refund. Let us know how the bank refunds your money.
RBI rules-
The bank has to resolve the complaint of cash stuck in the ATM within 5 days. According to the rules of the Reserve Bank of India, if the solution is not found, the bank has to pay compensation of Rs 100 per day. If the customer is not satisfied with the compensation, he can lodge a complaint on https://cms.rbi.org.in.
How much compensation do you get-
The new rule of the Reserve Bank of India (RBI) applies to all authorized payment systems. This includes card to card fund transfer, point of sale (PoS) transactions, IMPS, UPI, e-commerce and mobile app transactions.
Each bank has a fixed period and compensation amount to resolve these problems. For example, the problem of card to card transfer or IMPS can be resolved by the next day.
The purpose of this rule is to provide fast and effective service to the customers, so that payment related issues can be resolved immediately.
Keep these things in mind-
When this happens to you, you must check the withdrawal notification and account balance once. If money has been deducted from your account, you should wait for 5 days. If even then the money is not refunded, then you can complain about it to the bank.